Regulators Urged to Beef Up 401(k)

Federal regulators need to boost their oversight of 401(k) retirement plans and adopt changes to ensure full disclosure of hidden costs that can cut into the savings of millions of American workers, a government report recommended.

With companies abandoning traditional pensions, 401(k) plans have become a cornerstone of retirement security for an estimated 47 million people. Yet regulation and oversight haven't kept pace, the recent report by the Government Accountability Office found.

Regulators Urged to Beef Up 401(k)
Source: Hartford Courant